by Summary:
… A guaranteed alternative job replaces bank credit manipulation [by monetary policy] as the stabilisation process. The production system gets a change in output, not a dead loss. You get income in your pocket, not a debt millstone around your neck. And that's how you get to true full employment and price stability within an economic system where demand is satisfied. New Wayland BlogThe MMT Approach in a NutshellNeilW
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… A guaranteed alternative job replaces bank credit manipulation [by monetary policy] as the stabilisation process. The production system gets a change in output, not a dead loss. You get income in your pocket, not a debt millstone around your neck. And that's how you get to true full employment and price stability within an economic system where demand is satisfied. New Wayland BlogThe MMT Approach in a NutshellNeilW
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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… A guaranteed alternative job replaces bank credit manipulation [by monetary policy] as the stabilisation process. The production system gets a change in output, not a dead loss. You get income in your pocket, not a debt millstone around your neck.New Wayland Blog
And that's how you get to true full employment and price stability within an economic system where demand is satisfied.
The MMT Approach in a Nutshell
NeilW